Plus, a Chicago-based freight broker boasts about making $215k in one day, Lineage Logistics hits it big with an $18 billion IPO, the latest on the Ocean's 11-style freight heist, and more.
We took the opportunity to ask our Instagram followers about their best days as freight brokers. Here are some of their responses...
Heartland Express, Covenant Logistics, and Knight-Swift Q2 earnings show mixed results, debt reduction, and market stabilization signs.
US box demand remains weak, reflecting stunted goods economy—no growth seen in six years.
US box demand remains weak, continuing the months-long trend. This weak demand, a leading economic indicator, reflects a stunted goods economy. In Q2, the Packaging Corp. of America reported a severe 9.8% decline in box shipments. Despite optimism expressed in Q1, no improvement is in sight. Future forecasts hint at improvement in Q3, but no reasoning was provided. Factors such as reduced regional bank lending, ended SNAP benefits, resuming federal student loan payments, and tightened monetary policy from the Federal Reserve cast doubts over increased box demand. Current box demand mirrors 2017 levels, suggesting no growth in six years.
Source: FreightWaves
Cardboard Box Recession: Demand lowest since 2008.
— Macrotrend Mojo (@MacrotrendMojo) June 8, 2023
“US box shipments fell 8.4% in 4th Qtr as spending slows” (Markets Insider)
On flip side - heavy truck demand jumping this yr.
I dug deeper -why contrast? Heavy truck tax credit jumped $80K.
You decide.#stocks #investing pic.twitter.com/a8BbW4H883
Q2 sees slower rate of trucking business exits, but market remains challenging. Here are the latest industry data and expert insights.
Driver wages remain the largest expense. Safety bonuses ($1,831 average) surpassed starting bonuses for the first time.
Morgan Stanley's latest TLQURE model forecasts significant increases in truckload spot rates over the next year. What does this mean for the industry?
Southeastern carriers are rejecting loads at the highest rate since July 2022, breaking a two-year trend of low volatility and loose capacity.
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